I shorted silver a few days ago and wanted to post a chart of the trade.

Silver 1h chart

This is the 1h chart and I only use the daily, 4h, and 1h chart to trade.

As you can see silver did fall nicely so the trade worked out fine. When the trade was profitable I adjusted my stop loss to break even and let the trade do the work.

The trade went to 34% profit and back to 1% of profit when the trade was closed at break even. I wanted to let the trade run a bit longer since I already was at break even and I expected a bigger decline to $36.60.

When your reward is a multiple of your risk (2-3 or more) than you must not be right every time to make a profit. This time it did not work out.

Well it did get there eventually a few days later (and even a bit further), so my analysis was right.

Learning point: It is better to also look at the ATR (Average True Range) of the last 8 days on the daily time frame to look how much Silver moves in a day on average. So when you are close to 0.5 to 0.75 ATR you might start thinking about taking profits.

Quick short on Silver: update

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